Before you tour homes with a real estate agent, you'll be asked to sign a written buyer agreement. Some buyers worry it's a trap. It's actually there to protect you.
A buyer agreement spells out, in writing:
- What your agent will do for you
- How long the agreement lasts
- How your agent gets paid, and who pays
Nothing is hidden. You can ask questions about every line before you sign, and you should.
When an agent hands you a buyer agreement, read it with them and ask, "What exactly will you do for me, and how are you paid?" A good agent will happily explain.
General education only, not legal, tax or lending advice. Program rules vary; ask your lender, attorney or program office about your situation.
Next tip: Shop for homeowners insurance early